More demanding greenhouse gas emissions targets would help spur Europe's economic recovery, rather than damage the bloc's prospects as some critics have claimed.
That is the conclusion of a major new study released yesterday by Germany's Potsdam Institute for Climate Impact Research (PIK), which predicts upping the bloc's mandatory emission reduction target from 20 per cent to 30 per cent below 1990 levels by 2020 would increase European investment levels from 18 per cent to around 22 per cent of GDP.
The report claims that by 2020 the additional investment would help create up to six million extra jobs and increase GDP by up to €620bn, compared to the current target. It concludes that far from exacerbating the economic downturn, "post-crisis Europe can revitalize its economy by tackling the climate challenge".
For more: Deeper emissions cuts would pull Europe out of economic mire - 22 Feb 2011 - News from BusinessGreen
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